A simple way of describing the social cost of monopoly is to say that it
A) produces too much.
B) makes too much money.
C) has too much political power.
D) restricts output and charges a higher price than a perfectly competitive firm.
D
Economics
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How much of each dollar spent by a consumer ultimately becomes income to someone else?
A) less than one dollar B) It depends on how much the cost there is in the distribution channel that delivers the good from the manufacturer to the consumer. C) It depends on how much labor was needed to produce the good that the consumer buys. D) one dollar
Economics
The potential level of real GDP is the level of output a society can achieve when labor is employed at its natural level.
a. true b. false
Economics